New Delhi (TIP)- In its first monetary policy of the current calendar year, the RBI on Thursday, Feb 10,  held its key lending rates steady at record low levels for the tenth straight time. The move led to the rupee sliding by 10 paise against the US dollar as the market was expecting a hike in reverse repo rate to withdraw excess liquidity. The RBI has projected GDP growth of 7.8% in FY23 as against the Economic Survey’s 8-8.5% forecast and IMF’s projection of 9%. The conservative estimate is due to the uncertainties on account of pandemic and elevated global commodity prices, explained RBI Governor Shaktikanta Das. The RBI anticipated a lower inflation rate of 4.5% for FY23 as against 5.3% expected in the current year, assuming that the monsoon will be normal. The RBI’s Monetary Policy Committee also decided to keep the repo rate unchanged at 4% and the reverse repo rate at 3.35%.